If the aggregate supply curve shifted from AS0 to AS1 and the aggregate demand curve remains at AD0, we could say that Multiple Choice aggregate supply has decreased, equilibrium output has decreased, and unemployment has increased. aggregate supply has increased, equilibrium output has decreased, and unemployment has increased. an increase in the amount of output supplied has occurred. aggregate supply has increased and the price level has risen to G.

If the aggregate supply curve shifted from AS0 to AS1 and the aggregate demand curve remains at AD0, we could say that Multiple Choice aggregate supply has decreased, equilibrium output has decreased, and unemployment has increased. aggregate supply has increased, equilibrium output has decreased, and unemployment has increased. an increase in the amount of output supplied has occurred. aggregate supply has increased and the price level has risen to G.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter17: Market Failure: Externalities, Public Goods, And Asymmetric Information

Section: Chapter Questions

Problem 1QP

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